TITLE

Fannie, Freddie end pensions

AUTHOR(S)
Investor's Business Daily
PUB. DATE
October 2013
SOURCE
Investors Business Daily;10/28/2013, pA02
SOURCE TYPE
Newspaper
DOC. TYPE
Article
ABSTRACT
The bailed-out mortgage giants will eliminate employee pension plans by the end of the year, at the urging of their regulator, to limit long-term liabilities and help conserve assets. Fannie Mae and Freddie Mac had frozen pension contributions earlier this year. Employees participating in the pension plan will get a lump-sum payout or an annuity. The pension elimination comes as the federally backed entities return to profitability, but they continue to pay the Treasury as a result of the bailout.
ACCESSION #
91646522

 

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